USDJPY

USD/JPY jumped to 110.00 earlier today, as expected, but failed to chew through offers placed above the psychological resistance and is now trading below 109.60. With the pullback from the session high of 110.03, the pair has confirmed a bearish divergence and the pair could fall further toward 109.00. USD/JPY is expected to find support at 109.40 and a fall through could take it to the support level of 109.14. On the other side, resistance stands at 109.83, and a rise through could take it to the level of 110.04.

USDJPY-17-05-19

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 108.87 109.10 109.50 109.73 110.13 110.36 110.75
WEEKLY 107.77 108.62 109.28 110.13 110.79 111.64 112.30
MONTHLY 109.09 109.95 110.69 111.55 112.29 113.15 113.89

EURUSD

EUR/USD is struggling for direction at the end of the week amidst the broader leg lower prevailing since the rejection from Monday’s tops in the 1.1260/65 band. Italian politics and US-China trade added to the selling pressure in the European currency. EUR/USD is expected to find support at 1.1158 and a fall through could take it further to the support level of 1.1141. On the other side, resistance stands at 1.1194, and a rise through could take it to the next resistance level of 1.1211.

EURUSD-17-05-19

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1093 1.1130 1.1152 1.1188 1.1210 1.1246 1.1268
WEEKLY 1.1084 1.1122 1.1179 1.1217 1.1274 1.1312 1.1369
MONTHLY 1.0896 1.1004 1.1110 1.1218 1.1324 1.1432 1.1538

GBPUSD

GBP/USD remains stable around 1.2780 while into the European open on Friday. Traders now concentrate on the cross-party Brexit talks that are on their last-ditched efforts between the ruling Tory and the opposition Labour party. Latest news reports from the BBC signalled another failure to agree over the Brexit proposal. However, no official confirmation is given for the same. GBP/USD is expected to find support at 1.2765 and a fall through could take it to the next support level of 1.2747. On the other side, resistance stands at 1.2836, and a rise through could take it to the next resistance level of 1.2875.

GBPUSD-17-05-19

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2707 1.2747 1.2772 1.2812 1.2837 1.2877 1.2902
WEEKLY 1.2718 1.2843 1.2922 1.3047 1.3126 1.3251 1.3330
MONTHLY 1.2536 1.2701 1.2868 1.3033 1.3200 1.3365 1.3532

GOLD

Gold extended its slide and traded to $1,284 in yesterday’s session as the prevalent risk-on atmosphere made it difficult for the precious metal to find demand as a safe-haven. Currently the yellow metal managed a pullback from the lows and trades around mid $1,287.00s while into the European early session. Gold is expected to find support at 1,283.80 and a fall through could take it to the support level of 1,280.10. On the other side, resistance stands at 1,291.25, and a rise through could take it to the level of 1,296.00.

GOLD-17-05-19

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1265.55 1274.95 1280.45 1289.85 1295.35 1304.75 1310.25
WEEKLY 1264.39 1271.27 1278.99 1285.87 1293.59 1300.47 1308.19
MONTHLY 1217.19 1242.62 1263.79 1289.22 1310.39 1335.82 1356.99